| Income Statement | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 |
|---|---|---|---|---|
| Loans, including fees | 75,040 | 73,962 | 71,992 | 75,316 |
| Securities, taxable | 5,041 | 4,679 | 4,239 | 3,140 |
| Securities, tax-exempt | 1,259 | 1,181 | 1,172 | 1,056 |
| Interest-earning deposits | 4,303 | 2,136 | 2,935 | 3,900 |
| Total interest income | 85,643 | 81,958 | 80,338 | 83,412 |
| Deposits | 26,817 | 25,725 | 25,192 | 27,588 |
| Short-term borrowings | 1,974 | 1,919 | 1,763 | 2,219 |
| Federal home loan bank advances | 2,895 | 2,897 | 2,898 | 3,218 |
| Subordinated debt and other borrowings | 1,955 | 1,938 | 1,937 | 2,095 |
| Total interest expense | 33,641 | 32,479 | 31,790 | 35,120 |
| Net interest income | 52,002 | 49,479 | 48,548 | 48,292 |
| Provision for credit losses | 200 | 1,600 | 2,100 | 1,100 |
| Net interest income after provision for credit losses | 51,802 | 47,879 | 46,448 | 47,192 |
| Noninterest revenue-Service Charges On Deposit And Sweep Accounts | 2,064 | 1,967 | - | - |
| Noninterest revenue-Interest Rate Swap Fees | - | 1,230 | - | - |
| Mortgage banking income | 3,066 | 3,969 | 2,651 | 3,325 |
| Noninterest revenue-Credit And Debit Card | 2,371 | 2,350 | - | - |
| Noninterest revenue-Interest Rate Swap Fees | 377 | - | - | - |
| Noninterest revenue-Payroll Processing | 825 | - | - | - |
| Payroll services income | - | - | - | 713 |
| Noninterest revenue | - | - | 5,160 | 4,010 |
| Noninterest revenue-Payroll Processing | - | 783 | - | - |
| Earnings on bank owned life insurance | 858 | 561 | 543 | 449 |
| Interest rate swap fees | - | - | - | 389 |
| Other income | 827 | 602 | 348 | 781 |
| Total noninterest income | 10,388 | 11,462 | 8,702 | 9,667 |
| Salaries and benefits | 21,094 | 20,711 | 19,557 | 20,292 |
| Occupancy | 2,122 | 2,155 | 2,118 | 2,146 |
| Furniture and equipment depreciation, rent and maintenance | 846 | 826 | 787 | 938 |
| Data processing costs | 3,945 | 3,599 | 3,770 | 3,437 |
| Charitable foundation contributions | 300 | 2 | 3 | - |
| Acquisition costs | 606 | - | - | - |
| Other expense | 5,837 | 6,086 | 4,869 | 5,490 |
| Total noninterest expense | 34,750 | 33,379 | 31,104 | 32,303 |
| Income before federal income tax expense | 27,440 | 25,962 | 24,046 | 24,556 |
| Federal income tax expense | 3,682 | 3,344 | 4,509 | 4,938 |
| Net income | 23,758 | 22,618 | 19,537 | 19,618 |
| Average basic shares outstanding (in shares) | 16,249,267 | 16,239,919 | 16,197,978 | 16,138,320 |
| Average diluted shares outstanding (in shares) | 16,249,267 | 16,239,919 | 16,197,978 | 16,138,320 |
| Basic earnings per share (in dollars per share) | 1.46 | 1.39 | 1.21 | 1.22 |
| Diluted earnings per share (in dollars per share) | 1.46 | 1.39 | 1.21 | 1.22 |
MERCANTILE BANK CORP (MBWM)
MERCANTILE BANK CORP (MBWM)